Absence of tax exemption may cost in India losing 2021 Champions Trophy
The International Cricket Council has indicated that unless the Indian government offer a tax deduction, India may not be able to host the 2021 ICC Champions Trophy. The ICC has also stated that before the start of the tournament they are working to explore possible alternatives to host the event.
The trend that to host a major sporting tournament the governing body will receive a tax exemption from the government of the host country is a well accepted now. The ICC is expecting the same from the Indian government but there has been no development in the same so far. The ICC has had a board meeting on Friday where they talked over the issue. Now, they are looking for other countries in a similar time zone and side by side they continued their talk with the Indian government.
"In other matters, the Board expressed their concern around the absence of a tax exemption from the Indian Government for ICC events held in India despite ongoing efforts from both the ICC and BCCI to secure the exemption which is standard practice for major sporting events around the world," stated in an ICC release as quoted by Cricbuzz.
"The Board agreed that ICC management, supported by the BCCI will continue the dialogue with the Indian Government but in the meantime directed ICC management to explore alternative host countries in a similar time zone for the ICC Champions Trophy 2021."
During the meeting, the ICC board agreed on a revised financial model for Afghanistan and Ireland who received Full Member status in June 2017. According to the new model, both countries will receive increased fund allocations.
"The new model will see Ireland and Afghanistan each receiving a percentage of the projected surplus, amounting under current projections to approximately $40m each over the course of the current eight-year commercial rights cycle," ICC stated.
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